PROOF OF LOTTERY (PoL) BLOCKCHAIN

A method of applying proof of lottery to select block forgers in a blockchain, comprising performing the following at a certain one of a plurality of computing nodes connected to a blockchain network: (1) transmitting one or more of a plurality of participation transactions submitted by at least some of the plurality of computing nodes for participating in selection process conducted to select forgers from the plurality of computing nodes to forge blocks to be added to the blockchain; (2) determining a respective forger, during each selection process, by applying a selection function to an outcome of a hash function and a plurality of participation transactions extracted from a first subset of blocks preceding the respective block, the hash function is applied to a second subset of blocks preceding the respective block; and (3) forging the respective block in case the certain computing node is selected as the respective forger.